Empower Wealth Management

Yes. As a registered investment advisor, Empower Wealth Management is subject to a fiduciary duty under the Investment Advisers Act of 1940, legally obligating it to act in its clients' best interests. The firm's public filings confirm it operates on a fee-only basis, eliminating commission-based conflicts of interest that arise when advisors sell proprietary or third-party financial products.

The firm primarily constructs client portfolios using exchange-traded funds and mutual funds, according to its public disclosure documents. This passive, indexed approach allows for broad asset-class exposure — typically spanning domestic and international equities, fixed income, and occasionally real estate or commodities — while keeping internal investment expenses low relative to active stock selection.

Public records indicate the firm accepts individual investors, high-net-worth households, pension and profit-sharing plans, trusts, estates, and charitable organizations. There is no publicly disclosed minimum account size, a detail typically negotiated at the client-advisor level, but the firm's percentage-of-AUM fee schedule suggests a natural floor beneath which flat retainer or hourly planning engagements may be more common.

Empower Wealth Management reports charging a percentage-based fee on assets under management, with the specific rate declining at higher asset tiers — a standard RIA model. The firm does not receive commissions or sales loads. For clients requiring financial planning without full asset management, the firm may negotiate separate planning fees, though its primary compensation disclosure centers on AUM-based billing.

The firm's regulatory filings name Charles Schwab and TD Ameritrade among its qualified custodians. This means client securities and cash sit at these third-party institutions, not at Empower Wealth Management. The custodial model provides independent account statements and SIPC protection, a structural safeguard that separates advisory control from asset custody for the clients it serves.